News

Update: Barnes & Noble director defends poison pill

BY CSA STAFF

New York Barnes & Noble board member Michael Del Giudice suggested in his testimony Tuesday that shareholders who don’t like the company’s poison pill could trigger it simply by agreeing to vote against it, according to a Tuesday report by the Associated Press.

The book retailer is defending the shareholder rights plan it adopted last year after billionaire Ron Burkle doubled his stake in the company.

Burkle is challenging the anti-takeover maneuver in a suit being heard in Delaware Chancery Court.

Barnes & Noble officials have testified that the terms of the poison pill are reasonable, and that shareholders will be given the chance to vote on it by mid-November. Del Giudice testified Tuesday that if investors holding more than 20% of the retailer’s shares agree to vote against the poison pill, that itself would trigger the pill.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Are you hiring seasonal employees this year?

View Results

Loading ... Loading ...
News

Same story, different month

BY CSA STAFF

Delinquency trends within Target’s portfolio of credit card receivables continued to show improvement in June. The percentage of accounts 60 days past due sank to 4.9% in June, the lowest level so far this year and a sharp improvement from the 5.2% seen in May. The percentage of accounts 60 days past due is approaching levels not seen since the summer of 2008. Also showing improvement are the number of accounts 90 days past due. Roughly 3.6% of accounts are 90 days past, down from 3.7% in May and 4.5% at the beginning of the fiscal year.

 

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Are you hiring seasonal employees this year?

View Results

Loading ... Loading ...
News

No wonder traffic is up

BY CSA STAFF

Target was the top-ranked retailer during the first half of 2010 in terms promotional advertising pages, according to Kantar Media, with roughly 1.3 billion pages. That figures represents a 67% increase from the first six months of 2009 when the company also was the top-ranked retailer in terms of promotional pages. Following Target in the ranking of promotional pages were Dollar General, Walgreens, PetSmart, Family Dollar, CVS, Kroger, Petco, Publix and Ralphs.

The promotional data was part of a study in which Kantar examined free standing insert (FSI) trends during the first six months of the year and discovered a 10.1% increase.

 

“In addition to Target’s expanded use of cooperative FSI coupon vehicles to support their retailer promotion activity, other leading retailer are expanding their use of retail promotion events, especially with the food, drug, value and pet specialty channels,” said Mark Nesbitt, president of Kantar Media Intelligence. “One of the trends observed in response to the declining economy was consolidation of retail shopping trips within the super center format. The increase used of retail promotional events wtih cooperative FSI coupon vehicles may be an effective retail response to company the consolidation of trips.”  

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Are you hiring seasonal employees this year?

View Results

Loading ... Loading ...